Whales, VIP and Taking Care of Your Best Customers | Effective Ecommerce Podcast #29 - Best Webhosting
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Everyone in this episode of the Effective Ecommerce podcast we're gonna be talking about whales VIP customers very important person customers and taking care of your best customers in general and there's a very specific reason why we're talking about this and this is because these are the customers that are giving you the most money you want to keep them happy you want to keep them coming back to you as long as possible and honestly spending as much money with you as possible. So hopefully by this point in the podcast I'm hoping you have some sales and even if you don't have any sales these are some good ideas to have some good systems to put in place early in your business and we'll talk about specifically what the systems are to get more of your big customers more of those whales coming back to you and in general how to get people to spend more money we're gonna talk about all these different systems.
So if you don't already have a lot of sales that's fine listen to this episode you know get ideas for when you do become a bigger company if you're a bigger company you have a decent amount of sales this is a perfect episode for you. So in general with business there are three main ways to make more money get more customers to get more money per sale and then increase the lifetime value or get more sales out of that customer. So it's how many customers you have how big is the sale that they make and how many sale or purchases do they make with you that's really it and now we can dive in a little bit deeper there's more to it than just that how do you get more customers well you either need to get more traffic or a better conversion rate for the most part there's like the two main things of getting more customers when it comes to online I mean really when it comes to anything but specifically with online getting more money per sale how do you do that you can do number of different ways you can upsell them you can give them incentives to buy higher quantities you can sell related products you can do all kinds of different things and then last but not least how do you increase the lifetime value well I mean really I guess that kind of ties in the last thing we said but it's either increasing the amount of money they spend per sale or increasing how many sales that they have.
Those are really the tools at your just and for a lot of people out there they probably already know about the 80/20 rule also known the known as the Pareto principle but this is very important because a number of different reasons and this applies all over life but especially you'll see this in business. So for those of those of you that don't know what the 80/20 rule is let me explain it really quick and then you'll see very quickly how it relates to business.
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